The following items represent liabilities on a firm’s balance sheet: a. An amount of money owed to…

The following items represent liabilities on a firm’s balance sheet: a. An amount of money owed to a supplier based on the terms 2/20, n/40, for which no note was executed. b. An amount of money owed to a creditor on a note due April 30, 2018. c. An amount of money owed to a creditor on a note due August 15, 2019. d. An amount of money owed to employees for work performed during the last week in December. e. An amount of money owed to a bank for the use of borrowed funds due on March 1, 2018. f. An amount of money owed to a creditor as an annual installment payment on a ten-year note. g. An amount of money owed to the federal government based on the company’s annual income.

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